HighLow Broker Review: Writing a review about any binary option broker or binary option robot website requires immense research about products, its applicability, users, users review, legal framework it is following, and the implication of legal framework in the home country and other countries. A few days back, some of my readers had asked me to check out “HighLow”.
This prompted me to go over the site and understand various legal and operational aspects of the “HighLow”. I opened a demo account which to my surprise was very simple than any other site I had visited, as it did not require any signup or information, and you can log in as a guest to trade with handsome $10,000 of virtual currency. I took about 2 days to research and understand the legal and operational aspects of the site and its other functionalities. Finally, I am presenting my opinion of the site for your consumption in order to help you take an informed decision.
The binary options trading site HighLow is operated by an Australian company named “HighLow Markets Pty Ltd” and is owned by an Australian firm called “Realtime Capital Markets”. The company is registered with the Australian authorities and hold the Australian Company Number ACN-143-553-628 and the Australian Business Number ABN-85143553628 as a license. The company has also got a license (Australian Financial Services License No: 364264) to operate financial services business from the Australian Securities and Investment Commission. The financial services license provides the company to perform financial services business in Australia.The Australian Securities and Investment Commission outlines the laws and regulations for financial services with respect to processes the company needs to follow, staff’s educational requirements, the amount of risk a company can take and the processes related to management of risk, accounting standards a financial company should follow and various audit requirements, these all requirements need to be followed by a registered organization (HighLow) to continue business on the Australian territory.
Besides providing binary options trading services to Australian traders, the company also allows binary options traders from Africa, Europe, and the Middle East. Unluckily, the binary options traders from the United States of America cannot trade into it.
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When you open the site, the combination of black background and orange shades catches your eyes giving you a feel of the corporate look. The homepage of the website prominently features the carousel incorporating various asset options, durations, and a transient screen. The transient screen provides information about various distinct features of the site. The assets are represented with the charts and payout options for a particular asset type along with the trading time period. Even though the website offers an ease of navigation and corporate look, the site compared to its competitors gives a feeling that it lacks some of the eye-candy features like deposit options, platform information, withdrawal options, accreditations received, and customer review.
The navigation in the site from one screen to another is very easy and can be comprehended with a little or no practice.The website seems to be designed with “Keep it Simple, Stupid!” (KISS) concept to provide ease of access and relevant information like frequently asked questions, operational information on how to trade, opening an account, opening a demo account and choice of language.The website has two language preferences including Japanese beside English. The website is well laid and developed to give a sense of easiness and simplicity. The site offers various binary options through the carousel, which makes the selection of options very easy.
The trading tabs provides clear understanding and information regarding choosing an asset which includes 17 currency pairs (AUD/JPY, AUD/NZD, AUD/USD, CAD/JPY, CHF/JPY, EUR/AUD, EUR/AUD, EUR/JPY, EUR/GBP, GBP/AUD, GBP/JPY, GBP/USD, NZD/JPY, NZD/US, USD/CAD, USD/JPY and USD/CHF), 1 precious metal (Gold), and 5 stock indices (AUS200, HKG33, JPN225, UK100 and US30). Although, the site provides very easy navigation, the lack of educational material and resources will restrain the newbies of the binary options to be attracted to the site. The HighLow site has compensated the lack of educational resources with very easy demo option, which provides one-click direct demo access to anyone willing to explore the binary options trading without any prerequisite such as registration. It is my regular practice to suggest to use demo account or free account trading for some time before jumping on to real money account to a newbie of the binary options trader.
The site offers basically two trading options; High/Low (digital) and Turbo (on demand), both the options are available with spreads and various payout scenarios ranging from 80 percent to 200 percent of invested amount. The High/Low options can be traded with visible expiry time for a frequency of 60 seconds to 1-day. The lower end of expiration time available on the HighLow is very suitable for intraday or day traders and provides an opportunity to trade for 5 minutes or even less. This means the site targets a specific group of traders and the platform may not be suitable for long-term traders.
The platform offers variable spread which moves closer near the expiry of the trade, which gives a little tighter control over the result. It provides a high-risk high-return environment for traders as it offers a payout of 100 percent or higher. The spread options can make any trader’s adrenaline rush to hit the roof.
The website uses one of the prominent binary options trading platform Market Pulse to provide smooth user experience, whereas the company has entered into an agreement for the data stream with a company called Leverate. Leverate is a well-known name in the data streaming services and it is known for providing safe and secure data to their clients. The platform provides the overall sentiment of the market through traders’ choice option which gets enabled after four trades and delivers running sentiments of the online traders. Normally, I recommend my readers not to use the advice of the broker to trade; in the case of HighLow, it will not be an issue as it is being regulated by Australian authorities which do not authorize HighLow to provide advisory services to its client. Also, the website doesn’t have any auto trading facility, so if you are a non-professional trader then I would recommend you to use signal services from the professional signal service provider, or comprehend the strategies better before commencing the binary options trading.
To trade on the HighLow website, you also need to understand various exposure limitations and the amount of max position in a single option is allowed. Unlike, other platforms which have low restrictions, The HighLow platform has some trading restriction on maximum amount which can be traded and the maximum amount of exposure one can take (please see the table below).
The company also offers mobile applications for both android enabled smartphones/tablets and IOS enabled smartphones/tablets for ease of trading.This provides a complete mobility to the people who are always on the move and prefers mobility and trading on the go.
Deposits and Withdrawals
The company offers various deposit methods including credit card, Neteller and direct wire transfers from the bank. Unfortunately, as of now, it does not support the PayPal services for credits or deposits. One of the most admiring features for deposits is that it allows you to deposit as low as $10 to start the real money trading, such feature is offered by very few binary options brokerage house like IQOptions.The site only offers the deposition in the Australian Dollar (AU$), the US Dollar (US$), the Euro (€) and the Sterling Pound (£) dependent on client’s currency selection at the time of the registration.
Currently, the company offers deposition through Credit Cards/Neteller wherein minimum deposit amount is $50, and Bank Transfer wherein the minimum deposit amount is $10 for AU accounts and $50 for rest of the currency preferences. In the same way, withdrawals are possible for as low as $10 via Bank Transfer and $50 for Credit Card/Neteller. Though it does not impose a cap on withdrawal via bank transfer, the website has certain limitations for extraction through Neteller or Credit Card. Following table provides details regarding the amount and shows the nitty gritty of the payments and the withdrawals for HighLow.
The transfers in case of Credit Card/Neteller happens in real time, while for Bank Transfer it requires 4 hours to 72 hours depending on your bank location.
Though the company does not impose any charges on deposits, the company deduct 1.5 percent on withdrawal amount. The fees on withdrawal seem reasonable as it is lower than the median withdrawal fees charged by the binary options brokerage firms of the industry. The company also charges $20 irrespective of the amount of withdrawal for wire transfers to an overseas or an international bank.
The website also follows specific rules to safeguard the user data, one such example is that it does not save credit card or other financial information to safeguard the client’s details from unwanted online threats. The firmas well follow the rules and regulations set by the Australian Authorities and hence uses a trust account of National Bank of Australia to keep the moneys of their clients. This way it limits the misuse of your funds to hedge the positions. The broker uses its own funds to hedge the open positions instead of utilizing your funds to do so.
Signup and Bonuses
The website offers easy and convenient signup with generic fields for the new customers. The company requires you to put your name, email, country of resident, currency choice, date of birth, full address and asks you for your driving license or Medicare for an Australian resident to register on the website.
Currently, the website offers cashback of $50 on the initial $50 worth of trading, and the most exciting part is that there are no caps of transaction volume to redeem the bonus amount, you can immediately redeem the funds to your trading account for the trading worth of $50.
Payouts & trading
The first tab on the carousel of the site allows to you choose the regular High/Low option of binary options. These options have payouts up to 90 percent of the invested amount, this is quite competitive and is in the upper strata of industry standards, with the lowest possible investment amount of $10.
If you are a swift trader and prefer a fast paced trading options than you will not be disappointed with HighLow as it provides various faster expiry options such as 60 seconds, 90 seconds or 300 seconds. It is also suitable for professional traders as it provides a trading in spreads for various assets. This on-demand trading provides payouts up to 100 percent of invested amount. The combination of spread binary options and fast paced transaction can provide you paced adrenaline rush.
Supports for customers
The benefit of a structureddealer is that there will be processes and instructions in place in the case should you require support from the HighLow team. The corporation’s location is at Level 14, Macquarie House, 167 Macquarie Street, Sydney, NSW-2000, Australia. It is also heartening to see that the business offers service support to its clients over a phone (Australia: 1300-870-442, Singapore: 800-130-1608 and the United Kingdom: 0800-048-8748).
Though the company’s website is available in English and Japanese, it supports no other language which may be a big letdown for other language speaking clients. Though the company provides detailed FAQ to resolve all your queries and support through email or phone, one of the most disheartening things is that it does not provide the web chat options. In an online scenario, web chat is one of the most convenient and faster options to resolve your queries and which is a must when real money is involved in it.
The HighLow offers clear advantages specifically to the Australians, but when it comes to other nationality It seems restrained categorically for the United States citizens. The ease of operation on the site, the competitive cost of trading, the support system of the site, the processes it follows and regulated by the Australian authorities makes it one of the most sought after brokerage but no educational material on the site, no live chat option for support, and limited assets to trade restrict its demand. Also, the focus of the company seems to be a specific group of traders which makes it a restrictive site for long term traders (dealers who take more than 24-hour positions) and newbies.
The limitations prompted me to check other top binary options broker like IQOptions and Banc de Binary, in order to provide comparative information.
The IQOptions has one of the most intuitive websites and provides learning tools for the newbies. It also has excellent payouts up to 91 percent and allows to deposit as low as $10. Also, it offers minimum investment trade of $1, which is the lowest investment amount allowed per trade by binary options broker. Though it offers a maximum investment per trade at $1000, it has lowest trading amount per option trade is as low as $1, making it the best retail binary options broker. It offers a choice of accounts like the free account, the real account and the VIP account with a plethora of services and options for the traders ranging from newbie to professional binary options trader.
The another one is Banc De Binary, which is one of the oldest binary options brokers who has been around since 2009. It is also known for its generous bonuses including up to 100 percent sign up bonus, referral bonuses, and surprise bonuses which are offered at a will by Banc De Binary. It also offers generous payouts ranging from 60 percent to 91 percent of invested amount. The minimum deposit starts from $250 whereas it allows trading as lows $1 per trade, while maximum investment amount is capped at $6000 per trade. It also offers a variety of accounts to cater to the needs of varied types of consumers; the micro silver accounts for beginners, the standard gold account for intermediate level traders, the personal management account for high-frequency professional traders and the premium account for full-time professional traders. The highlight of the Banc De Binary is that it offered a tailored account for Muslim traders termed as the Islamic trading account which is formed on the principles of Hibah. It also offers an intuitive trading platform with tools to learn the binary options trading for beginners. It offers the highest possible resources about 200 to transact including currency, commodity, precious metal, stock indexes and stocks.
Factoring in all the facets of binary options exchange, I would recommend choosing IQOptions for small dealers and Banc De Binary for the big time, professional traders. Though HighLow seems a good agent, but I would prefer IQOption and Banc De Binary because of their legality is already been tested for a longer period of time, and they have gained customer trust over a period of time. They also offer a clear advantage in terms of a number of assets they offer, learning tools, intuitive websites, trusted trading platform, the regulation they follow and the customer service.
Michael Allen is the main author at www.binaryoptionrobotinfo.com. He holds a PhD in Economics and has worked in investment banking for 24 years.
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